A lot of college students graduate with debt. I am one of them.
I’ve worked one or two jobs since I was 14. Despite my work ethic, I love to spend and I did not budget college well. I enjoy shopping, traveling to see my family and friends or to explore a new place, going out to eat, and surprising friends with thoughtful gifts. However, I’ve never had a strong income to support my spending. I started a roller coaster 2 years ago when I began learning about how to curb my spending habits and to teach myself about smart financial decisions.
I’m in no way an expert on finances so my way is not necessarily the right way. I am continually open to changing my spending plan for what works for me.
Here’s my current spending plan:
- I moved back in with my parents to save money. I use my paycheck to cover all of my expenses, add to savings, and pay $500/month extra towards my debt minimums.
- I also babysit regularly, run Katie Pelton Resumes, and do any extra work I can, which all goes towards debt.
- I allow myself a $100/paycheck allowance to have some fun, buy presents, or enjoy a glass of wine or two after all my hard work!
Since taking extreme measures on January 1, 2013 here’s my progress:
I’m always looking for ways to educate myself on money management, ways to earn money and/or save money, and inexpensive ways to shop and have a social life. Similar to my old blog, I’ll post on occasion about my financial info and progress when I have it.